Pictet Asset Management Holding SA Reduces Holdings in Roblox Co. (NYSE:RBLX)

Pictet Asset Management Holding SA cut its position in Roblox Co. (NYSE:RBLX) by 17.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,095 shares of the company’s stock after selling 37,874 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Roblox were worth $10,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock valued at $43,000 after purchasing an additional 230 shares in the last quarter. Rakuten Securities Inc. increased its holdings in Roblox by 25.6% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after purchasing an additional 195 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Roblox by 188.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock valued at $56,000 after buying an additional 633 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Roblox by 29.2% during the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after buying an additional 271 shares in the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

Roblox Trading Up 1.0 %

NYSE RBLX opened at $61.61 on Thursday. The firm’s 50 day moving average price is $62.88 and its two-hundred day moving average price is $55.80. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. Roblox Co. has a twelve month low of $29.55 and a twelve month high of $75.74. The stock has a market cap of $38.14 billion, a price-to-earnings ratio of -42.49 and a beta of 1.49.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. Equities analysts anticipate that Roblox Co. will post -1.49 EPS for the current year.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 138,555 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total value of $9,923,309.10. Following the transaction, the chief executive officer now owns 129,301 shares in the company, valued at approximately $9,260,537.62. This represents a 51.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amy Marie Rawlings sold 5,879 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $65.00, for a total transaction of $382,135.00. Following the transaction, the chief accounting officer now directly owns 75,528 shares in the company, valued at approximately $4,909,320. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 926,466 shares of company stock valued at $60,212,297. Corporate insiders own 22.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RBLX shares. Piper Sandler reaffirmed an “overweight” rating and issued a $72.00 price target (up from $65.00) on shares of Roblox in a report on Tuesday, January 28th. The Goldman Sachs Group increased their price target on shares of Roblox from $55.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Roth Mkm boosted their price objective on Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Barclays reduced their target price on Roblox from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, Morgan Stanley raised their price objective on Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.23.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.